Paycom Software, Inc. $PAYC Stock: Maryland State Retirement & Pension System Raises Position

Maryland State Retirement & Pension System grew its position in Paycom Software, Inc. (NYSE:PAYC) by 30.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,960 shares of the software maker’s stock after purchasing an additional 2,535 shares during the period. Maryland State Retirement & Pension System’s holdings in Paycom Software were worth $2,385,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TD Waterhouse Canada Inc. acquired a new stake in shares of Paycom Software during the 3rd quarter valued at about $25,000. Laurel Wealth Advisors LLC bought a new stake in shares of Paycom Software in the 3rd quarter valued at approximately $28,000. Silver Grove Financial Group Inc. grew its stake in shares of Paycom Software by 134.4% in the 3rd quarter. Silver Grove Financial Group Inc. now owns 143 shares of the software maker’s stock valued at $31,000 after buying an additional 82 shares in the last quarter. Provenance Wealth Advisors LLC bought a new stake in shares of Paycom Software in the 3rd quarter valued at approximately $48,000. Finally, Elevation Wealth Partners LLC increased its holdings in Paycom Software by 76.5% in the third quarter. Elevation Wealth Partners LLC now owns 233 shares of the software maker’s stock worth $51,000 after buying an additional 101 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Shane Hadlock sold 241 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $240.07, for a total value of $57,856.87. Following the completion of the sale, the insider directly owned 69,911 shares in the company, valued at approximately $16,783,533.77. The trade was a 0.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 13.20% of the company’s stock.

Paycom Software Stock Up 0.1%

NYSE PAYC traded up $0.34 during trading on Friday, hitting $249.19. 684,651 shares of the company traded hands, compared to its average volume of 778,132. Paycom Software, Inc. has a 12 month low of $104.90 and a 12 month high of $275.22. The business has a fifty day simple moving average of $238.74 and a 200 day simple moving average of $169.08. The company has a market capitalization of $11.22 billion, a P/E ratio of 23.87, a PEG ratio of 1.11 and a beta of 0.75. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.06.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, November 4th. The software maker reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.56. The company had revenue of $543.80 million during the quarter, compared to the consensus estimate of $535.26 million. Paycom Software had a return on equity of 52.12% and a net margin of 23.28%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.94 EPS. As a group, sell-side analysts predict that Paycom Software, Inc. will post 11.72 EPS for the current year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Monday, November 23rd will be paid a $0.3750 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, November 23rd. Paycom Software’s dividend payout ratio (DPR) is presently 14.37%.

Analyst Upgrades and Downgrades

PAYC has been the topic of several recent research reports. KeyCorp raised their price objective on shares of Paycom Software from $295.00 to $297.00 and gave the company an “overweight” rating in a research report on Thursday, November 5th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, November 5th. Cantor Fitzgerald boosted their target price on shares of Paycom Software from $195.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, October 30th. Bank of America began coverage on shares of Paycom Software in a research note on Tuesday, September 29th. They set an “underperform” rating and a $200.00 price target on the stock. Finally, Jefferies Financial Group increased their price target on shares of Paycom Software from $160.00 to $300.00 and gave the stock a “hold” rating in a research note on Tuesday, October 27th. Four analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $255.36.

About Paycom Software

Paycom Software, Inc. provides cloud-based human capital management (HCM) software that helps businesses manage payroll, human resources, and workforce operations through a unified platform. Its solutions support the employee life cycle, including recruiting, onboarding, payroll processing, benefits administration, time and labor management, talent management, and compliance. The company’s platform incorporates automation and artificial intelligence to streamline HR processes and reduce administrative tasks.